I'm at the stage now where I'm putting things in place for my startup. I'm looking to get my bank account setup in the next fortnight. I don't think I need anything too complex.
My question, who do you bank with for your business, how do you find them and do they offer free banking?
The views expressed in this post are my own personal (HRA protected) views, and are not representative of any organisation I have any involvement with.
I am with Natwest as they offered 2 years free banking. My personal bank account is with HSBC and I was going to bank with them for my business, but when I looked at the small print for their 18 months free banking, there were a lot of extras to pay for that dont apply to Natwest. Make sure that you read the small print carefully as I think that by doing so I will save myself a lot of fees. Setting up an account with Natwest was quick and easy and they sent me a free starting up your own business disc with loads of useful stuff on it which I still need to finish looking through.
Have a little look on their website, that is where I found the fees, the banking is free up to certain limits, like you can pay so much into the bank, then you get charged, you can draw so much out, then you get charged. There are far fewer limits on the Natwest side and their fee limits are bigger (from memory). Well worth a look into.
Thanks Terri I will have a look, I have all the stuff through now so I think I will bear with it for the 18 months. I can always swap when the 18 months are up.
